Mark,
I see it has and is going to be my job to educate you.
Where to start:
G.HSDSL:
biz.yahoo.com
biz.yahoo.com
biz.yahoo.com
shdsl.org
dslprime.com
a Quote: Europe needs the part, because the telcos have convinced the regulators to prohibit SDSL on interference grounds; CLECs are crippled until G.shdsl is widely available.
zdnet.com - About HSDSL2 but how it will lead to G.HSDSL.
Everyone is producing chipsets and everyone will soon be producing the equipment, WSTL included. If you listen to the last CC, MZ clearly says to expect it by the end of the year or end of fiscal year (3/01). If Mr. Floyd is not doing anything about and not talking about it, maybe you should be questioning him instead of assuming that everything is rosy.
WSTL's TAP:
35% gross margin. Mark, you expect everything to be spoon fed to you. Yes, it doesn't say thing in the last Q. But if you go back before DSL CPE numbers ramped and if you look at the Teltrend numbers and combine them, you can get a pretty good estimate. TAP is expected to grow 10% qtr to qtr according to many of the analyst reports. That's better than DELL or CSCO. Low growth ??? Mark, you don't do your homework and then make all sorts of ludicrous claims.
WSTL has not been bottom line profitable on the TAP and CPI, but TLTN has been, together they would have, had you cut out the expenses of the DSL CPE biz. So wrong again.
You should ask Mr. Floyd why they don't break out the SDSL numbers. I think it will be clear that it wasn't worth the $1B EFNT paid for Flowpoint. Likewise, WSTL paid too much for TLTN, they were deals done at peak of excess in the market. EFNT did well by doing a secondary near the peak.
EFNT is a good company, has good products and good growth. However, my original claim is that it is not worth 3x WSTL based on the numbers. I hope that they both go up, but I do believe that the Market Caps of the two companies will come much closer than they are now. |
